B.R.Goyal Infra.

- Recent increase in debt by INR 7 crores, from INR 70 crores to INR 77 crores, mainly due to INR 16 crores capex, partly funded by IPO proceeds (INR 8 crores) and term loans (INR 7 crores). - No current requirement for significant additional working capital debt as mobilization advances and enhanced bank guarantees support operations. - Bank guarantee limits expected to increase from INR 225 crores to around INR 325 crores within the year, requiring a 5-10% increase in fund base. - No explicit mention of immediate plans for fresh equity fundraising. - Overall, BR Goyal Infrastructure is conservatively leveraged with headroom for growth, indicating no urgent need for major new debt or equity infusion at present.

- The company has undertaken capex of around INR 16 crores recently, partly funded by an IPO proceed of INR 8 crores and a term loan of INR 7 crores for equipment and commercial loans. - This capex is intended to ensure smooth and fast project execution by investing in plant, machinery, construction equipment, and vehicles. - There is a focus on expanding bidding capacity for larger projects (e.g., road projects up to INR 600 crores, building projects above INR 100 crores). - The company is working on adopting green construction materials and energy-efficient equipment, including green steel and FRP made from waste materials, aligned with government approvals. - No specific future large-scale capital investments are detailed, but the company aims to enhance credentials and scale, including bidding for HAM projects and water infrastructure projects across India.

- Targeting 35% to 40% revenue growth in the current financial year (FY 2026) with expected turnover between INR 700 crores to INR 750 crores. - For FY 2027, expecting growth of 15% to 20% with targeted revenue around INR 900 crores. - Order book as of September 30, 2025 stands at INR 1,535 crores, providing visibility for the next two years. - A strong order pipeline of INR 2,500 crores in bids submitted, with an expected strike rate of 15% to 20%, leading to approx. INR 500 crores of new orders soon. - Focus on scaling presence in higher-ticket EPC road projects, wastewater treatment, toll collection, and building sectors to support top-line growth. - Continuous bidding plans and expansion into new geographies like Bihar expected to potentially alter revenue mix and spur growth.

- Targeting 35% to 40% revenue growth for the current fiscal year (FY '26). - Expecting EBITDA margins between 11% to 13% consolidated for FY '26. - For wastewater projects, EBITDA margins targeted around 18% to 20%. - Projected revenue growth of 15% to 20% for FY '27. - Order book as of Sep 30, 2025 stands at INR1,535 crores (73% YoY growth), providing two years of visibility. - Anticipated revenue of INR700-750 crores in FY '26, INR900 crores in FY '27. - Continued focus on higher-ticket EPC road projects and toll collection contracts with better margins. - Expansion plans in wastewater, toll collection, and road sectors expected to support sustainable profit growth. - Operating cash flow expected to turn positive by March 31, 2026, supporting healthier balance sheet and earnings.

- As of September 30, 2025, the unexecuted order book stands at INR 1,535 crores, up 73% from INR 887 crores as of September 30, 2024. - Order book split: - Road EPC: INR 1,000 crores pending - Building EPC: INR 100 crores pending - Wastewater: INR 160 crores pending - Toll collection: INR 275 crores pending - Execution timeline averages 12 to 36 months depending on the project. - For H2 FY26, expected execution of INR 400 to 450 crores orders. - For FY27, expected execution of INR 800 to 900 crores orders. - Bid pipeline currently stands at INR 2,500 crores submitted. - General bid strike rate is 15% to 20%, targeting around INR 500 crores worth of new orders soon. - New bids in wastewater sector in Bihar total around INR 700 crores (multiple bids).